Small Diagnostics Company Creates an Inspiring Future
A small, Italian-based, family-owned pharmaceutical company that makes diagnostics products was struggling with its North American operations. They had nothing significant in their pipeline for two years and were concerned for their future. They directly competed with other diagnostics companies and needed to introduce a new product to the market in order to generate new revenue and secure the North American business.
The CEO and his leadership team created a vision and strategic initiatives for the future of the business. Each member of the leadership team took accountability for an initiative to impact the future, including R&D, Operations, Sales and Marketing. They also created a set of values for the company and went to work on gaining the necessary buy-in from their corporate headquarters in Italy.
The leadership cascaded the strategy down throughout their organization and mobilized the North American workforce to drive the strategic initiatives they created. The result of these efforts was that two new entries were added to their pipeline. They declared this to be a breakthrough — these were the first additions to be added to the pipeline in nearly five years.